Beauty market

L’Oréal strengthened its position as the global beauty leader once again this year.

This image will not appear while you are browsing the site in energy-saver mode

This image will not appear while you are browsing the site in energy-saver mode

The world of beauty in 2023

Continuing the trend from 2022, the beauty market proved extremely dynamic, with growth of +8%, fuelled by a combination of high valorisation in mature markets and remarkable gains in emerging markets, which are key growth drivers for the Group.

  • +8% Global beauty market growth in 2023
  • €270 Bn Estimated market of more than €270 Bn

Estimated growth of the global beauty market 2000-2023

(in %)

Year Value
2000 +5%
2001 +4%
2002 +5%
2003 +4%
2004 +4%
2005 +4%
2006 +5%
2007 +5%
2008 +3%
2009 +1%
2010 +4%
2011 +4%
2012 +5%
2013 +4%
2014 +4%
2015 +4%
2016 +4%
2017 +5%
2018 +6%
2019 +5%
2020 -8%
2021 +8%
2022 +6%
2023 +8%

Breakdown of the beauty market by region

(in %)

Geographic Zone Value
North America 29%
North Asia 29%
Europe 24%
Latin America 9%

Breakdown of the beauty market by category

Category Value
Skincare 40%
Haircare 21%
Makeup 17%
Fragrances 12%
Hygiene products 10%

Main global players by sales

(in billions of USD)

Global players Value
L’Oréal 40,3
Unilever 25,1
Estée Lauder 16,4
Procter & Gamble 14,4
Shiseido 8,2
LVMH 8,1

Beauty: a resilient market with strong potential

The global cosmetics market has repeatedly demonstrated its robustness and remarkable resilience in the face of economic slowdowns and geopolitical upheaval. This offer-driven sector is constantly adapting to the new expectations of consumers, who are looking not only for quality, performance and innovation but also for meaning in what they buy.


The sector is increasingly omnichannel, with growing complementarity between different online and offline touchpoints. At the global level, 27% of all beauty products are sold online. The growth of e-commerce has made it possible to reach more consumers, well beyond the scope of traditional retail. E-commerce will be the distribution channel of the 21st century, with huge growth potential in many countries.

Rise in middle classes is driving growth

The beauty market is expected to include some 600 million more middle- and upper-middle-class consumers worldwide by 2030. Opportunities abound in SAPMENA-SSA, the world’s most densely populated region, home to more than 3.5 billion people in 2023. Countries such as Indonesia, Pakistan and Egypt have become new cultural influencers to watch on a regional level. China’s younger generations also embody huge consumer demand for increasingly sophisticated beauty products and services.

In mature markets, the “boomer” generation (around 20% of the population in North America and Europe) continues to thrive and support the upmarket shift.

600 million more potential consumers by 2030

Geographic Zone 2022 2030
North America 300 +20
Europe 575 +40
Latin America 210 +35
SSA 60 +25
SAPMENA 590 +280
North Asia 600 +180

The number of new middle- and upper-middle class consumers is expected to increase by 2030 by more than 60 million in North America and Europe combined, and by more than 460 million in SAPMENA and North Asia combined.

This image will not appear while you are browsing the site in energy-saver mode

This image will not appear while you are browsing the site in energy-saver mode

Towards holistic beauty

Holistic beauty embraces a comprehensive view of beauty, taking four aspects into consideration: physical, mental, emotional and spiritual beauty. It includes daily rituals and cultivates sensory pleasure through products, services and experiences. The popularity of holistic beauty treatments continues to grow as more consumers seek solutions that combine beauty and wellbeing.
In 2023, L’Oréal acquired Australian icon Aēsop – a holistic, luxury beauty brand with a singular combination of design, hedonism and lifestyle. This one-of-a-kind company is a perfect and complementary addition to L’Oréal Luxe’s portfolio of products, services and experiences.

Ongoing expansion of the dermocosmetics market

Interest in dermocosmetics continues to surge, driven by two structural trends. The consumer quest for health and safety remains paramount, fuelled by the escalating prevalence of skin disorders, which affect more than one in four people worldwide. Factors such as an ageing, climate change (pollution, exposure to UV rays) and stress contribute to this trend. There is also a surge in aesthetic procedures, along with more extensive use of dermocosmetics prescribed by dermatologists.

The success of L’Oréal’s Dermatological Beauty Division is underpinned by its longstanding leadership in medical prescriptions and a complementary portfolio of brands that meet the full range of consumer expectations, ranging from skin conditions to aesthetics.

Growth of the dermocosmetics market compared with the global beauty market

(in %)

Year Dermocosmetics market Global beauty market
2019 +6% +5%
2020 +2% -8%
2021 +13% +8%
2022 +9% +6%
2023 +13% +8%

This image will not appear while you are browsing the site in energy-saver mode

This image will not appear while you are browsing the site in energy-saver mode

Beauty Tech delivers increasingly personalised solutions

The defining feature of our era lies at the intersection between heightened consumer demand for personalisation and the advent of technological solutions that combine artificial intelligence, augmented reality and machine learning to enable a shift from “beauty for all” to “beauty for each”. Ninety-one percent of gen zers and millennials prefer personalised products and services. The number of connected consumers is also expected to increase significantly, from 5.3 billion in 2023 to 7.5 billion in 2030.
Using advanced research, data analysis and artificial intelligence, L’Oréal is championing new ways to connect more closely with consumers and offer tailored solutions to meet their needs through augmented products, smart devices, online platforms and a range of digital services.

This image will not appear while you are browsing the site in energy-saver mode

This image will not appear while you are browsing the site in energy-saver mode

Promoting more responsible beauty with refillable products

The popularity of refillable beauty products, which are more sustainable, continues to develop, particularly in the luxury sector. The expansion of these offerings in the fragrance category is part of this trend. There is also a demand for refills and refillable products in the makeup category. In 2023, L’Oréal significantly accelerated the rollout of its refillable model across all Luxe categories. In the fragrance category, all our major launches and blockbusters are now refillable.